Thursday August 7, 2014

Eugene McCord, Head of Software Services

How often have you heard the phrase "monetize your
network"?

The meaning may seem obvious, but the "how" is where the fog
rolls in.

Everyone "knows" the term monetize is the
responsibility of sales and marketing. Then there is the billing
system required to support the effort. Yet, if you were to roll out
a new product to a retail market, the sales process would point out
exactly what the capabilities of your new product are. So if that
is the case, then why isn't it the responsibility of monetizing the
network led by the Plant department?

What is the largest asset class on your books? For most
Communications Services Providers (CSP), it's the
network. And yet, do you know exactly where the
plant is located and exactly what portions of it are capable of
providing the desired service? For any given geographic area, do
you know the gap between what the customers in that area are
subscribed to and what is available to them? Wouldn't it be
great to know exactly what that gap is so you could build a
marketing campaign specifically to fill that
gap?

Most CSP's know pieces of this information but it's usually not
shared across all the functional areas of the company to
effectively market your core product - your network's capabilities.
This results in broad assumptions that end up costing the company
money and reduced customer satisfaction when it gets down to
actually delivering what is promised in a marketing campaign.
You know, those responses like "I'm sorry that service is not
available in your area" or "I'm sorry, the distance to your
location is too far to deliver the speed you are
wanting."

So, let's analyze what just happened here. You spent the money
to send the communication to attract the customer. You paid the
employees to talk to the customer and enter the information to
deliver them service. You may have even sent an installer out for
an installation. All for naught, because when it got right down to
it, the customer couldn't be provided what they were promised and
wanted to buy. The customer is dissatisfied and the company spent
money it can't recover…just because of inaccurate plant records
and/or the lack of tools to bring that very valuable information to
the front of the marketing process.

An effective marketing campaign to monetize your network must
start with accurate network and plant data to know exactly what
your network is capable of and where it can be delivered.
Otherwise, your sales and marketing effort is wasted.

To inquire about improving your network or to find out more
info contact Eugene McCord at 713.351.5111